First Trust Advisors LP lessened its stake in shares of Centurylink Inc (NYSE:CTL) by 56.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,776,071 shares of the technology company’s stock after selling 10,195,857 shares during the quarter. First Trust Advisors LP’s holdings in Centurylink were worth $97,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Coastal Investment Advisors Inc. lifted its stake in shares of Centurylink by 563.7% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,197 shares of the technology company’s stock worth $25,000 after buying an additional 1,866 shares during the last quarter. Cornerstone Advisors Inc. lifted its stake in shares of Centurylink by 68.7% during the 3rd quarter. Cornerstone Advisors Inc. now owns 2,058 shares of the technology company’s stock worth $26,000 after buying an additional 838 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its stake in shares of Centurylink by 54.9% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 2,823 shares of the technology company’s stock worth $35,000 after buying an additional 1,000 shares during the last quarter. AGF Investments LLC acquired a new stake in Centurylink in the 2nd quarter worth about $38,000. Finally, NEXT Financial Group Inc raised its stake in Centurylink by 279.8% in the 2nd quarter. NEXT Financial Group Inc now owns 3,699 shares of the technology company’s stock worth $44,000 after purchasing an additional 2,725 shares in the last quarter. Institutional investors own 73.51% of the company’s stock.

Several analysts have weighed in on the stock. Raymond James upgraded shares of Centurylink from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 8th. Guggenheim cut shares of Centurylink from a “neutral” rating to a “sell” rating and set a $10.00 price objective for the company. in a research note on Wednesday. ValuEngine upgraded shares of Centurylink from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Centurylink in a research note on Friday, September 13th. Finally, TheStreet upgraded shares of Centurylink from a “d+” rating to a “c” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Centurylink has an average rating of “Hold” and an average price target of $14.68.

Shares of Centurylink stock opened at $14.79 on Friday. The company has a 50-day simple moving average of $12.53 and a two-hundred day simple moving average of $11.65. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 0.98 and a beta of 0.86. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.53. Centurylink Inc has a twelve month low of $9.64 and a twelve month high of $21.50.

Centurylink (NYSE:CTL) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.53 billion. Centurylink had a negative net margin of 34.77% and a positive return on equity of 8.30%. Centurylink’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. On average, sell-side analysts anticipate that Centurylink Inc will post 1.35 earnings per share for the current fiscal year.

Centurylink Company Profile

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.

Featured Article: Accumulation/Distribution

Want to see what other hedge funds are holding CTL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centurylink Inc (NYSE:CTL).

Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

Receive News & Ratings for Centurylink Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centurylink and related companies with MarketBeat.com's FREE daily email newsletter.